Aadhaar Card Money Transfer: Aadhaar card not only works as an identity card, but also makes financial transactions easier.
Aadhaar Card Money Transfer: Aadhaar card has become the strongest identification card for every Indian citizen today. Through Aadhaar Enabled Payment System (AePS), you can do things like withdrawing money, depositing money and doing financial activities in other accounts.
NPCI created AePS
The National Payments Corporation of India (NPCI) has created this process. The purpose of this process is to make digital transactions easy and secure. AePS is built on the Unified Payment Interface (UPI) and it works under the bank-based model. It makes transactions easy through Aadhaar number and fingerprint verification.
Its biggest advantage is that it does not require bank account details, OTP or PIN. For this, it is necessary to link your Aadhaar card to your bank account. The same Aadhaar card can be linked to multiple bank accounts, which makes transactions easy through this process.
What are the benefits of AePS:
- Balance check: You can check the balance of your account.
- Withdraw cash: You can withdraw cash directly from your bank account.
- Deposit cash: You can deposit cash in your bank account.
- Aadhaar to Aadhaar fund transfer: Funds can be transferred between accounts using Aadhaar number.
- Payment: Transactions can be made using Aadhaar-based payment process.
How to use AePS?
To use AePS, contact a banking correspondent or Common Service Centre (CSC) operator. These operators are certified to carry out digital transactions with banks. You can also invite a correspondent to your home to use this service. AePS is especially beneficial for people living in rural or remote areas who do not have easy access to banking services.
Take advantage of banking services from the comfort of your home
Customers can carry out banking activities without visiting a bank branch with this service. This gives them banking services from the comfort of their homes. AePS is a big step towards Digital India by making banking services easy, secure and useful for everyone.
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